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Advances from Federal Home Loan Bank
 12 Months Ended
Dec. 31, 2014
Advances from Federal Home Loan Bank [Abstract]  
Advances from Federal Home Loan Bank
11.  Advances from Federal Home Loan Bank

Federal Home Loan Bank advances consisted of the following monthly amortizing and term borrowings at December 31:

(in thousands)
 
2014
  
2013
 
Monthly amortizing
 
$
1,170
  
$
1,286
 
Term
  
60,000
   
0
 
Total FHLB advances
 
$
61,170
  
$
1,286
 

The advances from the FHLB that require monthly principal payments were due for repayment as follows:

  
Principal Payments Due by Period at December 31, 2014
 
(in thousands)
 
Total
  
Within 1 Year
  
2 Years
  
3 Years
  
4 Years
  
5 Years
  
After 5 Years
 
Outstanding advances, weighted average interest rate – 1.70%
 
$
1,170
  
$
123
  
$
111
  
$
98
  
$
404
  
$
20
  
$
414
 

At December 31, 2013, CTBI had monthly amortizing FHLB advances totaling $1.3 million at a weighted average interest rate of 1.84%.

The term advances that require the total payment to be made at maturity follow:


(in thousands)
December 31
 
2014
  
2013
 
Advance #275, 0.17%, due 1/05/15
 
$
60,000
  
$
0
 
Total term advances
 
$
60,000
  
$
0
 

Advances totaling $61.2 million at December 31, 2014 were collateralized by FHLB stock of $17.9 million and a blanket lien on qualifying first mortgage loans.  As of December 31, 2014, CTBI had a $483.0 million FHLB borrowing capacity with $61.2 million in advances and $109.5 million in letters of credit used for public fund pledging leaving $312.3 million available for additional advances.  The advances had fixed interest rates ranging from 0.00% to 6.42% with a weighted average rate of 0.20%.  The advances are subject to restrictions or penalties in the event of prepayment.  Advance #275 matured and was replaced with advances #279 and #280 with a weighted average interest rate of 0.17% maturing on February 3, 2015 totaling $80 million.  There were no term advances at December 31, 2013.